The Centre’s role as a ‘facilitator’ or ‘enabler’ that will merely extend fiscal and non-fiscal concessions for rental housing
created by the state, provision for no central funding are some of the limitations of the draft policy
Almost a decade after the idea was first mooted, the real estate regulatory Act came into force on Monday. The law is still not watertight, and faces resistance from powerful lobby groups. But it does give buyers certain guarantees and a grievance redressal mechanism.
Steps proposed by the Centre include ensuring dispute-free property transactions, getting rid of bureaucratic red tape, asking cities to release credit rating status of their municipal entities and bringing professional staff in urban local bodies.
A government-appointed panel has said that a large section of urban workers lose access to social benefits due to intra-state and inter-state migration. It suggested that domicile-related restrictions be removed for the welfare of urban migrants
The greatest impact would be on National Social Assistance Programmes for the elderly, widows and disabled persons as the adoption of the panel’s recommendations, would significantly expand the beneficiaries, requiring an additional expenditure of Rs 6,700 crore annually.
In all these programmes as well as in rural housing and livelihood schemes, the use of SECC as the criteria would also translate into a significant reallocation of Central funds disbursed to the states.